Sprint and T-Mobile are apparently close to reaching an agreement in a deal worth $32 billion. If the deal goes through, then mobile carrier Sprint will purchase T-Mobile for around $40 per share.
The acquisition of T-Mobile by Sprint could go through this summer, although the companies are apparently still working on the agreement, and nothing has been finalized as yet.
Sprint and T-Mobile are the 3rd and 4th mobiles carriers in the US, and the merger would turn the new company into a serious competitor for the top two carriers, Verizon and AT&T.
Sprint is owned by Japan’s SoftBank, and the company’s CEO, Masayoshi Son recently said that he admired the outspoken T-Mobile CEO, John Legere.
Legere has done well with T-Mobile and has helped the company gain more subscribers each quarter with his range of Uncarrier offerings.
If the deal does go through, then John Legere is expected to be the new CEO of the merged companies, and if he can continue his Uncarrier strategies with the new company, then it could pose serious competition to AT&T and Verizon.
For the deal between Sprint and T-Mobile to go through it would need to be approved by the various regulators, like the FCC and the justice department. If the deal between the two companies does not go through, then Sprint will apparently pay T-Mobile $1 billion in cash.
It will be interesting to see what happens between Sprint and T-Mobile, and whether the two companies can reach an agreement to join forces.Filed Under: Mobile Phone News, Technology News